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Old 06-18-2015, 11:01 AM   #426
EN09
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Re: Bitcoin Deposits and Withdraws

Just ran across this thread today and it looks promising. Didn't realize the site was taking BTC's. I've been watching BTC for quite some time and considered adding some to my investment vehicles until they began dropping considerably awhile back.

Now that the site I play on is taking them, I'm going to look into setting up the accounts and run with it. Over the past year or so, I've also thought of adding BTC as an online payment option for my clients (not may would even know what bitcoins were in my area though lol), for professional services.

I've also been following Andreas M Antonopoulos @aantonop for a couple of years on twitter, he's a huge supporter and pusher of BTC. Give him a look if you're interested.
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Old 06-19-2015, 12:11 AM   #427
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by SantaCruz View Post
You clearly don't know what the industry standard for rake is if you think that WPN charges well above the industry standard.
888? Stars? Party? FT?
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Old 06-19-2015, 07:07 AM   #428
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Re: Bitcoin Deposits and Withdraws

Nice information is given about Bitcoin Deposits and withdraws system.
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Old 06-19-2015, 03:45 PM   #429
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Re: Bitcoin Deposits and Withdraws

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Originally Posted by berry1 View Post
888? Stars? Party? FT?
Are you unable to speak in complete sentences?
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Old 06-19-2015, 06:42 PM   #430
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Re: Bitcoin Deposits and Withdraws

I've sent some Bitcoin from a wallet to my Coinbase wallet, and it's been unconfirmed for over an hour now. Any reason I should be worried, or have the delays been about that long overall this week?

Not a big transaction, either, FWIW.
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Old 06-19-2015, 08:39 PM   #431
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Re: Bitcoin Deposits and Withdraws

OK I got it through, but it took a while. I guess there are delays right now for some reason on Coinbase's end.
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Old 06-19-2015, 10:14 PM   #432
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Re: Bitcoin Deposits and Withdraws

Do wpn do bitcoin withdraws on weekends? Last time they said only weekdays at certain times.


But for bitcoin deposits, do they always take them even on weekends if they dont do cashout on weekends?


Also is there limit to amt of btc withdraws you can get per week? Last time i think i was told max of 2 btc withdraw and 5k max worth of btc each time so 10k max a week. So if you play at bcp, acr, bookmaker etc... then you could withdraw more with each bookmaker skin?
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Old 06-20-2015, 01:35 AM   #433
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Re: Bitcoin Deposits and Withdraws

bitcoin newb here.

do i have to deposit via bitcoin to withdraw via bitcoin?

Please direct me to the "bitcoin for dummies" section. i want to know about the process of depositing/withdrawing. i also want to know about potential fluctuations. Can i somehow lose a bunch of BC(money) downswings or w/e?
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Old 06-20-2015, 09:47 AM   #434
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by p2 dog, p2 View Post
bitcoin newb here.

do i have to deposit via bitcoin to withdraw via bitcoin?
No.

Quote:
Please direct me to the "bitcoin for dummies" section.
You just posted in it
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Old 06-20-2015, 10:56 AM   #435
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by p2 dog, p2 View Post
i also want to know about potential fluctuations. Can i somehow lose a bunch of BC(money) downswings or w/e?
You can have zero currency risk on the deposit side if you:

- Use an exchange that lets you purchase and spend bitcoins instantly.
- Use an exchange that lets you deposit and hold a balance in dollars, even if this takes some time to process, so that you can buy and spend the bitcoins instantly when you are ready.

This depends on your country, and if you are in the U.S., also depends on your state.

On the withdrawal side, you do have some currency fluctuation risk. Some steps you can take to reduce the risk are:

- Time your withdrawals so that they happen on a day and time when bitcoin withdrawals are processed quickly by WPN, and you will be ready to send the bitcoins to your exchange and sell as quickly as possible. Don't cash out on weekends or off hours with bitcoin, because this might increase your exposure time, since you are committed to receiving a specified amount of bitcoin at the time of your withdrawal request.
- Watch the bitcoin price, and time your withdrawals into an bitcoin price uptrend. No guarantees it will continue, but can put the odds in your favor that there won't be a steep decline during the short time when you are waiting for the withdrawal to be processed, and for the exchange to allow you to sell.
- Withdraw in small amounts, especially at first, so that you are used to the process and how long it takes. Frequent small withdrawals are better than infrequent big withdrawals, when it comes to currency risk.

It's also fine to deposit with bitcoin and withdraw via other methods, which can give you zero currency risk if you have access to the right bitcoin exchange.

Quote:
Originally Posted by PaulyJames200x View Post
Do wpn do bitcoin withdraws on weekends? Last time they said only weekdays at certain times.

But for bitcoin deposits, do they always take them even on weekends if they dont do cashout on weekends?
Because of the currency risk, I would only do bitcoin withdrawals during the recommended times.

I had no trouble making an instant deposit late on a Saturday evening, so that should be fine. It appears that deposits are automated and withdrawals are not, so they take longer.
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Old 06-20-2015, 05:17 PM   #436
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Re: Bitcoin Deposits and Withdraws

I just requested a small withdrawal with Bitcoin just to try it out.

One thing that bothers me is that there is no place to check confirmation of Bitcoin withdrawal beyond the initial screen (no place to check history of transfer requests).

It's been about 20 minutes so far, nothing yet. I'll update when everything clears.
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Old 06-20-2015, 07:36 PM   #437
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by TimM View Post
You can have zero currency risk on the deposit side if you:

- Use an exchange that lets you purchase and spend bitcoins instantly.
- Use an exchange that lets you deposit and hold a balance in dollars, even if this takes some time to process, so that you can buy and spend the bitcoins instantly when you are ready.

This depends on your country, and if you are in the U.S., also depends on your state.

On the withdrawal side, you do have some currency fluctuation risk. Some steps you can take to reduce the risk are:

- Time your withdrawals so that they happen on a day and time when bitcoin withdrawals are processed quickly by WPN, and you will be ready to send the bitcoins to your exchange and sell as quickly as possible. Don't cash out on weekends or off hours with bitcoin, because this might increase your exposure time, since you are committed to receiving a specified amount of bitcoin at the time of your withdrawal request.
- Watch the bitcoin price, and time your withdrawals into an bitcoin price uptrend. No guarantees it will continue, but can put the odds in your favor that there won't be a steep decline during the short time when you are waiting for the withdrawal to be processed, and for the exchange to allow you to sell.
- Withdraw in small amounts, especially at first, so that you are used to the process and how long it takes. Frequent small withdrawals are better than infrequent big withdrawals, when it comes to currency risk.

It's also fine to deposit with bitcoin and withdraw via other methods, which can give you zero currency risk if you have access to the right bitcoin exchange.



Because of the currency risk, I would only do bitcoin withdrawals during the recommended times.

I had no trouble making an instant deposit late on a Saturday evening, so that should be fine. It appears that deposits are automated and withdrawals are not, so they take longer.
^ All of this.

Depending on what state you live in, you can use Coinbase or Circle as your bitcoin exchange to buy and sell. They attach to your bank account like PayPal or other e-wallets.

Then you want to set up your own separate bitcoin wallet... I'd recommend Blockchain.info. They have a FAQ page that answers some basic bitcoin questions and explains how to use the wallet.

https://blockchain.info/wallet/bitcoin-faq

To deposit to WPN you will send bitcoin from your Coinbase/Circle account to a newly created address in your Blockchain.info wallet. Then send from there to your WPN deposit address.

To withdraw you just do the opposite... create a new address in your Blockchain.info wallet and give that to WPN. After they've processed the withdrawal you send it to your Coinbase/Circle account and sell the bitcoin.

Coinbase/Circle -> Blockchain.info wallet -> WPN

WPN -> Blockchain.info wallet -> Coinbase/Circle

The money should be in your bank account within 1-3 business days.

Coinbase charges a 1% fee, Circle has no fee.
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Old 06-22-2015, 12:46 PM   #438
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by Jmas8310 View Post
I love how quick and easy bitcoin is , but it really sucks losing $50 during the process of getting my money from circle to my bank. Was about a hour before i had the chance to get back to my computer :0/
This works both ways with the price fluctuations. I just did a circle to bank transfer that was .7% more than my cash out from WPN. So on the one hand losing a little bit relative to the cash out amount could be viewed similar to a WU fee (which is consistent and pricey) but at the same time you'll never do a WU or debit card withdraw and make money in the transition which will happen sometimes with bitcoin.
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Old 06-23-2015, 12:15 AM   #439
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Re: Bitcoin Deposits and Withdraws

do any of these bitcoin wallets have a debit card option?
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Old 06-23-2015, 01:53 AM   #440
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Re: Bitcoin Deposits and Withdraws

I don't know about debit cards but at least a couple of wallets (like RoboCoin) have their own ATM machines scatted about mostly in metropolitan areas.
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Old 06-23-2015, 05:04 AM   #441
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by FloppedAMonsta View Post
One thing that bothers me is that there is no place to check confirmation of Bitcoin withdrawal beyond the initial screen (no place to check history of transfer requests).
At the top of the client, click My Account, and choose Transactions. Expand the window and you'll see the status of your request.
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Old 06-24-2015, 03:16 PM   #442
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Re: Bitcoin Deposits and Withdraws

So how can a NEW member withdraw $10,000 from America's Cardroom usin Bitcoin, to withdraw into a bank account, within 11 days? So that this person can enter into the Main Event In Las Vegas. Plz Help.
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Old 06-24-2015, 03:40 PM   #443
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Re: Bitcoin Deposits and Withdraws

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Originally Posted by Luck0rFate View Post
So how can a NEW member withdraw $10,000 from America's Cardroom usin Bitcoin, to withdraw into a bank account, within 11 days? So that this person can enter into the Main Event In Las Vegas. Plz Help.
If you're new to bitcoin you may be cutting it close. I would immediately open a new tab in your browser and create an account with circle.com (if in the US), complete everything including adding your bank account to start the verification process. I don't remember how long this took for me, a few days maybe, but I wasn't watching the clock on it either as I was in no rush. Do that now. Then once that ball is rolling come back here and read up to figure the rest out.
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Old 06-24-2015, 03:44 PM   #444
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Re: Bitcoin Deposits and Withdraws

K i had tried coinbase but they have 200 daily limit withdrawal into bank. I have started to get my circle going. Do you know their daily limit? Do I have time to get it all out?

Edit: I'm stuck on the ID Page, trying to verify identity on Circle.com. It wont let me submit my id picture, maybe file to big, still working on it.

I just won this 12,500 main event package 3 days ago. I did one cash out to my debit card but thats 2500 per week max
Wish America's Cardroom would just pay me in Las Vegas at the Main Event... I don't know if I will even have the money on time... Will probably have to borrow and pay some1 back...

https://forumserver.twoplustwo.com/28.../index626.html

Last edited by Luck0rFate; 06-24-2015 at 03:52 PM.
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Old 06-24-2015, 03:54 PM   #445
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by Luck0rFate View Post
K i had tried coinbase but they have 200 daily limit withdrawal into bank. I have started to get my circle going. Do you know their daily limit? Do I have time to get it all out?
My circle account says there is a maximum of 5K/week, and that limit may increase as I build history with them. My history is only a couple months and a few transactions old so I'd think this was my initial limit.

Def cutting it close, maybe ask coinbase if they can increase you to 5K/week or 1K/day or 500/day even, that would allow you to get the full amount using both sites quicker. Don't know if they will.

Good luck!
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Old 06-24-2015, 03:57 PM   #446
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by Luck0rFate View Post
I did one cash out to my debit card but thats 2500 per week max
2500 this week and next, 5K next week on circle after verified, I think you can get there.

It's a PITA in today's US environment, but I I wish I had that problem right now.

good luck!
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Old 06-24-2015, 07:28 PM   #447
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Re: Bitcoin Deposits and Withdraws

10k a day for me at coinbase selling wise
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Old 06-24-2015, 10:00 PM   #448
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Re: Bitcoin Deposits and Withdraws

Odds are really good you could buy lammers for BTC at a discount. Obviously there's some risk, but asking in Live MTTc or LVL might get you someone ahead of time.
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Old 06-24-2015, 11:50 PM   #449
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Re: Bitcoin Deposits and Withdraws

Quote:
Originally Posted by glutenfree View Post
2500 this week and next, 5K next week on circle after verified, I think you can get there.

It's a PITA in today's US environment, but I I wish I had that problem right now.

good luck!
Quote:
Originally Posted by Tapirboy View Post
Odds are really good you could buy lammers for BTC at a discount. Obviously there's some risk, but asking in Live MTTc or LVL might get you someone ahead of time.
Yeah, you might have to do a combination of all of this but I think you can make it. If you set up Circle right now you should be able to have that money in your bank before the end of next week.

Also might be able to find some players there willing to sell bitcoin for cash. Or ask people you know if they'd want to buy gift cards from you that you can purchase with bitcoin from Gyft.

And as a last resort you could use a Bitcoin ATM with about a 5% fee. Google to see if there's one near you or use one in Vegas.
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Old 06-29-2015, 11:38 PM   #450
PaulyJames200x
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Re: Bitcoin Deposits and Withdraws

Has anyone here requested btc withdraw on friday? If so, when did you receive the btc? I request it friday morning and the btc arrived in my acct on monday afternoon. Is this normal? I usually receive btc same day or next day. I also like to mention that btc price went up about 14 dollars during this time period and i only got credited the rate when i requested the withdraw. I have no issue with that but why did this btc cashout take this long? So never do btc cashout request on friday?


I thought btc would show up on friday since i requested it friday morning.
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